Labor Department Asks to Pause Fifth Circuit 401(k) Rule Cases

The US Labor Department moved to pause two cases before the US Court of Appeals for the Fifth Circuit where it is set to defend a Biden retirement account fiduciary rule that rankled Wall Street.

The unopposed motions filed Tuesday by Justice Department lawyers cite the need for new Trump administration DOL leaders to have a chance to become “familiar with the issues surrounding the litigation” and to decide how to proceed.

The motions could mark the beginning of the end of the Labor Department’s defense of the 401(k) rule finalized by the Biden DOL in April 2024. The measure ...